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Get secured business loans with affordable interest rates with Tata Capital. Verify eligibility criteria and apply today
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Loan Restructuring for COVID-19 related stress
Loan restructuring can be availed by borrowers to manage financial stress caused by the COVID-19 pandemic. Customers eligible under RBI circular, having any of the retail loans can apply for restructuring of the loan via the Tata Capital website.
High loan amounts
Business loan amounts can go up to Rs. 75 lakhs based on your business needs, such as expansion, inventory, working capital, and more.
Flexible tenures
Business loans have tenures that can extend up to 3 years based on the customer’s requirements.
Minimal documentation
You can apply online for a business loan with minimal documentation and no cumbersome paperwork.
Quick approval and disbursal
The verification and approval process is quick, and you can get your loan amount credited to your bank account in just a few days.
Loan Amount
₹ 0.40 lakh to ₹ 75 lakhs
Loan Tenure
12 to 60 months
Self-Employed Non-Professional Interest rate starting @
15%-25%
Self-Employed Doctors Interest rate starting
@ 12.00%-15.00%
Self-Employed Professional Other than Doctors Interest rate starting
@ 13.00%-17.50%
Are you a woman entrepreneur striving to run a successful enterprise in Madurai? Now you can get the financial support you need with the help of these excellent government schemes
As the city of Madurai continues to grow economically, running a business here can be profitable but equally demanding. In such a case, you can avail a business loan for the following purposes.
In Madurai, several lenders and NBFCs provide business financing options. You can easily get a business loan in Madurai to arrange cash for your business, hire more workers, buy new equipment, expand your business, take your brand online, and many other purposes. Business Loans interest rates in Madurai depend on several factors such as your CIBIL score, income, business vintage, company tenure, and annual turnover. A high CIBIL score and a stable income increase the chances of your loan getting approved quickly and bagging lower interest rates. Additionally, if your company has been operational for several years, you can get preferential interest rates for your business loan.
Tata Capital offers you some of the lowest business loan interest rates in Madurai, so you can grow your business without worrying about the burden of repayment.
Business loan eligibility comprises basic conditions like CIBIL score, age, business turnover, and more that candidates must fulfil to avail business finance. Here are the Business Loans eligibility criteria for Tata Capital:
Age should be between 25 to 65 years
CIBIL score must be 700 or more
The candidate should own a business at least profitable for three successive financial years
The business turnover must display an upward trend
Your balance sheet be audited by a registered Chartered Accountant (CA)
The EMI that you will be required to pay towards the repayment of your Business Loans in Madurai depends on three factors:
Principal loan amount – The higher the principal amount, the higher will be the EMI amount you will need to pay.
Rate of Interest – The higher the rate of interest, the higher will be the EMI amount you will need to pay.
Loan Tenure – The EMI is inversely related to the loan tenure. The shorter the loan tenure, the higher will be the EMI amount you will need to pay.
The quickest way to assess your business loan EMI in Madurai is using a Business Loans EMI calculator Simply input the principal amount, rate of interest, and your loan tenure. The tool will calculate the EMI you will have to pay each month.
You can reach out to us in various ways to apply for a Business Loans in Madurai:
Visiting our Branch
To apply for a business loan offline, simply pay visit to one of our country-wide branches and seek guidance from our loan specialists.
Call us to apply
With Tata Capital, you can apply for a business online with just a call. Simply contact us at 1860 267 6060 and we will walk you through the process.
Apply with our Virtual assistant
You can take the help of our loan processing virtual assistant to apply.
Here’s why our Business Loan is the perfect match for you:
You can repay through Post Dated Cheques, Electronic Clearance Service (ECS) or Direct Debit.
Business loans are available to both professionals and non-professionals that are self-employed. Business loans interest rates are highly competitive and are typically approved quickly. The following types of companies can secure business loans –
Sole proprietorship
Partnership firm
Private limited companies
Closely-held public limited companies
Societies
Trusts
Hospitals, nursing homes, diagnostic centres, pathological labs
A typical structure of a business loan involves a lending institution extending capital to a business owner, for which interest is charged. The business owner must pay back the business loan amount along with the applicable interest, in the form of Equal Monthly Instalments (EMIs), over a predetermined period of time known as loan tenure.
Three core components make up a business loan –
To avail a business loan, one must ideally have a CIBIL score of 700 or above. The same is true for both self-employed professionals such as doctors and engineers as well as self-employed non-professionals such as suppliers or manufacturers.
CIBIL or credit score plays a huge role in determining business loan eligibility. Since a company’s CIBIL score is its credit footprint, it enables lenders to know the timely repayment ability of the business loan applicant.
Business loans are typically short-term loans. Though business loan tenure may differ from lender to lender, most lending institutions extend business loans for a tenure ranging from 12 months to 36 months.
Lending institutions offer different types of business loans, designed to meet specific needs. They are as follows –
Machinery loans – Machinery loans are designed exclusively to meet the expansion needs of businesses via the purchase of advanced machinery and equipment.
MSME/SME loans – Designed to encourage the growth of small and medium-sized business enterprises, MSME/SME loans is a credit facility that can be availed for purchasing equipment, meeting operational expenses, and upgrading infrastructure.
Business loans for women – These loans are extended to women business owners to help them expand their business and push them towards financial independence.
The amount of business loan EMI that you will be required to pay towards the repayment of your business loan will largely depend upon three factors, as given below –
Principal loan amount – The higher the principal amount, the higher will be the EMI amount you will need to pay.
Rate of Interest – The higher the rate of interest, the higher will be the EMI amount you will need to pay.
Loan Tenure – The EMI is inversely related to the loan tenure. The shorter the loan tenure, the higher will be the EMI amount you will need to pay.
For a quick and accurate assessment of your business loan EMIs, use a handy online tool such as the business loan EMI calculator.
You can get a business loan from the lending institution of your choice in a number of ways, depending upon your convenience and the options offered by your lender.
Visit a nearby branch
Apply online via the lender’s website
Talk on call with the lender’s relationship managers
Send an email to your lender’s customer support mail address
Use the lender’s 24x7 virtual assistant feature
To avail a business loan with Tata Capital, simply apply for a business loan online or call on 1860-267-6060. You can also mail us at contactus@tatacapital.com or visit any of our branches.
Yes, just as your CIBIL score has a say in your business loan approval, your repayment of the business loan will affect your future credit score. Timely payment of loan EMIs will pose you as a low-risk borrower in the eyes of future lenders and hence, will enhance your CIBIL score.
Business loans can be availed for a variety of reasons. You can use different types of business loans to purchase infrastructure for expanding operations, to increase production via the purchase of new and advanced machinery, to purchase and store inventory in advance of seasonal sales, to build a workforce of skilled employees, and to increase working capital.
Yes, you can get a business loan without any collateral or security.
You can take an online business loan for your online retail store or e-commerce website. You must fulfil the following criteria for swift online business loan approval:
CIBIL score should be above 700
Your business must be profitable for three consequent financial years
Your turnover must show an upward trend
A CA should audit your balance sheet
Business owners have business and personal credit.
Loans for sole proprietorship and partnership businesses are guaranteed by an individual. So, the loan is reflected in your personal CIBIL report. However, if your company’s structure is LLC, then the business loan affects only the business’ CIBIL score.
Any interest levied on a business loan is exempt from taxation. This is because the interest paid is considered to be a business expense and not revenue. Registering as an MSME can also help you avail of business loan tax benefits on excise and other charges.
However, the principal amount is not tax-deductible.
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